I'm seriously thinking of starting my own web design company. Since this forum has helped me progress my knowledge, I would like to once again hear members speak their mind as I would appreciate any input.
I have reached the point where I HATE building websites. I've did a couple of jobs, have some current clients that are pulling me some residual money, but I would like to expand my business beyond my own capabilities. I only have a limited amount of time, and I'm more interested in management/entrepreneurship than designing and installing websites. I'm not much of a coder neither. I develop all my websites with WordPress and have some decent skills in html/php to customize the layout and add more functionality, mostly simple stuff. I never took any programming classes though, it all came from learning bit by bit -- I've been messing around with websites for over 5 years now, but nothing serious.
I'm a finance major student so I have an idea where to start from, but I don't have any concrete numbers. If you started a web design company, could you please share some information?
My first step would be to find an outsourcing team. I would begin with one worker. I prefer offering my clients CMS web solutions (WordPress) so I was thinking of hiring a WordPress-savvy developer from Philippines to handle the theme customization and editing of WordPress to satisfy my clients' needs. Could you tell me what is your average time length of a project? I want to estimate my average expense so I can figure out which prices to charge my clients and which wages to pay my workers.
What about hosting? Do you offer your own hosting service? I was thinking of subscribing as a Hostnine reseller, but I'm not sure if it's just better to send them to the host itself. If I offer my own hosting services, I could make some residual income out of it, so that's a plus.
I'm also planning on using Basecamp to handle all communication with my team and clients and Quickbooks for accounting/bookkeeping. Later on, I would hire more coders/graphic designers for more complex projects. I would also most likely hire a support team to handle any inquiries.
What are you thoughts? Do you think a web design company is lucrative?